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Bad Week for Wall Street’s Old Guard as Crypto Burns the Haters “It’s the initial rumblings. It’s the market warning the US government that something has to change,” said @schassler, head of multi-asset solutions for investment manager @vaneck_us. “If we’re going to be in a situation where there’s going to be a flight out of the dollar, fixed income and stocks at the same time, then you want to bias your portfolio towards decentralized assets.”
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Went for a drive after dinner. Stopped at a gas station for coffee. I used to come here all the time. Probably a hundred times, though it’s been nearly a year. The woman behind the counter is the same. White hair, maybe 75. Two coffees: $4.39. “Prices have gone up since you were last here,” she says. Can’t tell if she remembers me or just says that to everyone. I nod and point to my hat. “That’s why I hold bitcoin,” I say. Blank stare. “Internet money. Freedom money. Bitcoin.” Still nothing. My dog’s in the car. He likes to open the sunroof and set off the alarm so I’m in a rush, not in the mood to educate. I pivot to the teenager at the next register. “Come on. Bitcoin.” Mute stare. Bitcoin is $107,000. Still feels early.
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As governments print and spend, the appeal of neutral FX only grows. This 2050 Bitcoin valuation piece is nearly a year old and aging very well. By 2030 it will look like a blueprint. Bookmark it. https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-bitcoin-2050-valuation-scenarios-global-medium-of-exchange-and-reserve-asset/
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SEC again delays ruling on CBOE’s 19b-4 to list options on VanEck $HODL ETF. We find the lack of explanation confounding & frustrating. Investors deserve transparency and timely action. @HesterPeirce
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🚨 Zelle and top U.S. banks including JPM, CITI, WFC & BAC considering a consortium stablecoin to ‘fend off’ rising competition from crypto-native firms: WSJ
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